SIMPLE INTEREST Since this section involves what can happen to your money, it should be of INTEREST to you!

Mathematics Website WEEK 4 – STARTER 2 STARTER

To be able to calculate simple interest. OBJECTIVE

SIMPLE INTEREST KEY WORD

Annual interest rate IMPLE INTEREST FORMULA Interest paid Principal (Amount of money invested or borrowed) Time (in years) 100 I = PRT

If you invested $ in an account that paid simple interest, find how long you ’ d need to leave it in at 4% interest to make $ = (200)(0.04)T 1.25 yrs = T Typically interest is NOT simple interest but is paid semi- annually (twice a year), quarterly (4 times per year), monthly (12 times per year), or even daily (365 times per year). enter in formula as a decimal I = PRT 100

The teacher goes through selected examples on the following pages of the iBook: Pages Examples from the iBook

Struggling students watch video on simple interest – page 87 of the iBook. Meanwhile, advanced students can start with classwork 1. Watch videos from the iBook

G11 Maths Website WEEK 4 – CLASSWORK 1 SIMPLE INTEREST Show an organized solution on your maths notebook. CLASS WORK 1 SIMPLE INTEREST Pair Work

G11 Maths Website, “Useful link” folder Students answer an online worksheet: D=53 Show an organized solution on your maths notebook. CLASS WORK 2 COMPOUND INTEREST Individual Activity

G11 Maths iBook 1.Page 88, #’s 6, 7, 8, 9, 10 Show an organized solution on your maths notebook. HOMEWORK

Maths iBook Page 88, #’s 1, 2, 3, 4, and 5 Show an organized solution on your maths notebook. EXTENSION ACTIVITY

1.What is simple interest? 2.Share one or two things you have learned today. PLENARY

THANK YOU!